throw in towel, page-7

Trireme --very good thought provoking post .

In the mix of RMS DIRECTORS thoughts however , must have been :
* make Avoca pay a full price for a competitor (DIO)--and who thinks AVO ( the winner ) to meet its cash (takeover) commitments will have to have a Capital Riasing soon ( looking at thier Balance sheet ,me for one !!!!)
* by the process of "challenging ' Avo ,RMS HAS MADE MONEY on the corporate side , and have stalled ( bought time ) to bring Wattle Dam into full production .
* cash is king --Wattle Dam is now a Cashiers Till at the front of a long line of competitors in the Eastern Goldfields .$25 mill in the bank , and another $45 mill "in the mail" if they accept the AVO OFFER of cash and offload thier share entitlement .
Could be $100 mill by the end of March ,if production estimates are near accurate .

Now thats an awfully good position to have talks with Silver Lake , Regis , Saracen ......and maybe INTEGRA .
Avoca might have won the battle , but not necessarily the war .
Sun Tsu --art of war --beware thine enemy !
Watch this space , once RMS BID FOR DIO expires on the 8th Feb

jmho
cheers